Soybean Oil Sets Life-of-Contract Highs Ahead of USDA Report
Vegetable oil futures rallied on Monday as prices in the oilseeds complex moved higher. Overnight, concerns about a decline in palm oil supplies in January due to disruptions in harvesting due to excessive rainfall and rising optimism about exports in February drove buying in the palm oil market. The strength in palm oil combined with a sharp rally in soybean futures to lift soybean oil futures to life-of-contract highs and pushed the benchmark contract above the psychologically important 45-cent level.
Nearby soybean oil contracts rose about two percent (March contract +97 basis points per pound), but bull spreading by funds limited gains in the back end of the curve (December contract +54 basis points). The move higher triggered a buy signal from the MACD indicator, potentially indicating a new leg in the bullish…
03.03.2025
EASA releases EU SAF mandate penalty reference prices
The EU Aviation Safety Agency (EASA) released its report on 2024 aviation fuel prices on February 25, and this will be used to assess penalties for non-compliance with ReFuelEU...
03.03.2025
Gulf UCO, tallow prices edge lower; Chicago lard posts modest gains
Activity in the US animal fats and oils markets picked up late in the day on Monday March 3, with the US Gulf region reporting the bulk of trades.
03.03.2025
Trade quiet in animal protein market ahead of tariff implementation on Canada and Mexico
Trading was quiet in the animal protein market on Monday March 3 with many market participants taking a wait-and-see approach to US tariffs that are set to go into...